Wednesday, July 16, 2008

Spank That Bottom

Now that prices have rolled back to 2003 levels no doubt the pollyannas will be out in force with the happy talk. My response; you peek out your bottom, I'm gonna spank it.

DQNews for Ventura 2007 vs 2008:
886 vs 767 -13.4%

A little perspective. At 767 homes per month it would take 370 months to cycle through the entire stock. More than a 30 year mortgage.

And what if you took advantage of the 10% drop in prices last June to buy the median house. How'd that work out sport?
$582,000 vs $420,000 -27.80%

A little perspective. The median home lost 31¢ per minute, $18.50 per hour, $444 per day every minute, every hour, every day in addition to paying PITI.

And just in case you get the wrong idea that this is what happened to people who bought last year:

My reply is this is what really happened:


Casey Serin said...

"FIRST served, FIRST come!" ... that's the proposed motto for my male escort business. ;-)

Jean ValJean said...

FIRST to commend you on the GREAT pictures you find, Rob!

Jean ValJean said...

aww, shit! Beaten by Casey.


How pathetic is that!?!?!

No wonder I'm Miserable!

Property Flopper said...

I've got to second 24601's comment - VERY nice pic Rob. I approve. :)